- Posted by: Valerie Vaz MP
- Category: News
I signed an Amendment to the Financial Services and Markets Bill, which would have introduce New Clause 7 to the Bill. The Amendment was also signed by 83 of my colleagues. Unfortunately the Amendment did not pass, Ayes: 206 and Noes 271.
New Clause 7 would have proposed that the Treasury make provision to guarantee a minimum level of cash access, and that this is free. The full text of the clause is below.
“Access to cash: Guaranteed minimum provision
(1) The Treasury must, by regulations, make provision to guarantee a
minimum level of access to free of charge cash access services for consumers across the United Kingdom.
(2) The minimum level of access referred to in subsection (1) must be included in the regulations.
(3) Regulations under this section shall be made by statutory instrument, and may not be made unless a draft has been laid before and approved by resolution of each House of Parliament